China’s steel exports may exceed 100 million tonnes this year, the first time above the 100-million level, said Wang Liqun, vice president of China Iron and Steel Association (CISA) recently.
China exported a total 93.78 million tonnes of steel products in 2014, a year-on-year increase of 51%.
China’s steel products export over January-August this year rose 27% from the year prior to 71.87 million tonnes, with August exports at 9.73 million tonnes, up 25.39% on year and unchanged from July.
Steel products export at northern China’s Hebei province stood at 15.12 million tonnes over January-August, rising 47.3% year on year, accounting for 21% of the total exports in China.
The soaring export in China was probably attributed to the shrinking domestic demand amid falling prices. Thus more and more steel mills turned to take international market share.
China’s total output of steel products rose 1.5% on year to 745.45 million tonnes over January-August, with August output increased 0.4% on year but down 2.4% on month to 94.5 million tonnes.
The supply glut also contributed to a sharp increment in steel export this year.
source: http://en.sxcoal.com